The golden gambling rule is not to bet more money than you are actually able to lose. In fact, this happens to be the greatest mistake that a gambler could make, which is why the principles of money management are so vital in gambling.
Here are several other mistakes that gamblers tend to make, as well as several misconceptions that usually cost gamblers money.
You need to take full control of your emotions even after a huge loss on one team. If Team A isn't able to help you out - maybe costing you an easy win by giving up on that late touchdown during the last seconds - do not hold a grudge on Team A during your bets or in the near or distant future.
Many gamblers tend to say that they won't support a team again, but this is a big mistake. Such hatred and emotional outbursts will merely stop you to think clearly the next time the team plays and when you need to make objective decisions with them involved.
Stay confident at all times and remain grounded when it comes to your principles of handicapping. In a nutshell, never doubt yourself. The minute handicappers and gamblers begin to lose (this happens to everyone, by the way), stay with the successful things that you know and stay confident in the thought that you can smile someday instead of frown. If you have won before, you are sure to win again someday.
A lot of times, you simply go through losing streaks, which will eventually turn around if you stay confident and keep going the same way. Also, if you stick to your system of bankroll allocation, you won't lose too much and will be able to avoid getting into financial holes that you will never be able to escape from.
Nobody can win every single day. That is simply impossible, so guys who think they can do this are mere frauds. There will definitely be weeks and days when you will need to pay up - just like that. Whenever you lose and get stuck in losing streaks, though, just pull away and try not to run after your losses. Instead, live to fight for something else for a while. Now, this is the place where proper money management and bankroll allocation appear. Just know the amount that you can actually afford to get rid of in horrible scenarios within certain periods of time.
